Axiom Exergy’s Refrigeration Battery® helps businesses with large, refrigeration-based energy loads reduce peak electricity demand by up to 40 percent
by intelligently “storing refrigeration.” With a full-scale test system now complete at its new Richmond headquarters, Axiom Exergy is gearing up for
its first full-scale pilot projects at leading supermarkets.

RICHMOND, Calif., December 10, 2015: Axiom Exergy, innovator of behind-the-meter, thermal energy storage systems for supermarkets and food distribution
facilities, is ramping up for initial demonstration projects with supermarket chains that are eager to reduce their energy bills by storing energy
onsite. To support these initial pilots and manage growth the Axiom team has expanded its executive team and completed construction of a full-scale
test system at the company’s new headquarters that is designed to simulate a broad set of energy storage and grid-edge applications. The pilots are
intended to show how the Refrigeration Battery enables supermarkets and food processing/distribution facilities to intelligently shift their refrigeration
systems’ costly energy consumption to off-peak hours, substantially reducing their utility bills.

Earlier this year, Axiom Exergy announced the availability of its Refrigeration Battery®, which can reduce a supermarket’s peak power usage by up to
40 percent and provide backup cooling during power outages. Since then, the company has engaged with several major supermarket chains to deliver pilot
projects that prove how the Refrigeration Battery® reduces energy cost, a key step to prepare for multi-site rollouts. As well, with the completion
of a full-scale testing and demonstration system at their new facility, Axiom Exergy can now simulate energy applications such as load shifting, backup
cooling, and in the near future, load curtailment based on demand response signals from grid operators.

“We offer an application-specific energy storage technology designed to store refrigeration. Rather than ‘peak shaving,’ we move a significant amount of
load for a long period of time, which is essential for facilities with large, relatively smooth refrigeration loads. The Refrigeration Battery’s superior
economics and value proposition is resonating well with energy managers at leading US supermarket chains. Our pilots will both validate and quantify
the system’s performance in real world environments,” said Amrit Robbins, President and Co-Founder of Axiom Exergy.

Expanded team gears up for initial customer shipments in 2016

Today’s announcement marks the on-schedule completion of several major personnel and technology milestones over the past few months. In August, Axiom Exergy
moved into its new headquarters in Richmond, California — alongside other energy innovators that include Alion and Sunpower. Since then, the
company has added key expertise to its executive team, and is currently closing a round of financing to pave the way for a Series A round of funding
in 2016. New team members announced today include:

Nikhil Saralkar: Vice President of Engineering. Nikhil comes to Axiom Exergy from Metron, Inc., where as director
of hardware development of unmanned underwater vehicles (UUVs) for US Navy contracts, he led the design, fabrication, and integration of vehicles,
payloads, infrastructure, and next-generation platforms. Nikhil started his career as a product development engineer at Gecko Energy Technologies,
a startup that developed a fuel-cell power platform for consumer devices. He is experienced in engineering design, analysis, technical team management,
and project management.

Ryan Adelman: Chief Commercial Officer. Ryan is a corporate strategy and business development executive with
over seventeen years of experience in strategic planning, marketing and business development roles across industries ranging from energy efficiency
and building infrastructure to renewable energy and transportation. For the last year, Ryan served as Axiom Exergy’s lead advisor and assisted the
team with their strategy. Prior, Ryan built the strategy team at Siemens Building Technologies and led the development of Siemens Retail and Commercial
Systems, establishing Siemens as a global leader in enterprise, multi-site energy management services. Ryan also architected and helped roll out several
key portfolio growth plans for Siemens Building Technologies and Siemens Mobility.

John “Robbie” Eaton: Director of Controls Development. Robbie brings a blend of advanced controls development
skills as well as cloud software experience, honed during his recent roles at cloud storage companies Hightail and Syncplicity. Once a member of Motorola
Mobility / Google, Robbie joined the internal “H7” special projects team, where he developed “moonshot” prototypes and products with Internet of Things
(IoT) applications. There, he created and led the design of a novel hand-gesture recognition IoT device, featuring innovative imaging and illumination
technologies.

The Refrigeration Battery® solves a major problem that businesses with high refrigeration loads have been unable to address until now: the inability to
strategically manage inflexible refrigeration systems that consume more than 55 percent of the energy in a typical supermarket—and must be kept
running during afternoon peak hours when electricity prices skyrocket.

Rather than storing electricity, the Refrigeration Battery “stores refrigeration” for later use, enabling these facilities to transform their refrigeration
systems into large-scale, cloud-connected, intelligent, energy-storage resources. It is a non-invasive, “plug-and-play” retrofit that does not require
modification to existing refrigeration systems. Further, customers can save money from day one by taking advantage of Axiom Exergy’s flexible, shared
savings program and avoid lengthy capital expenditure reviews. The team plans to announce details about financing options for the Refrigeration Battery
in early 2016.

ABOUT AXIOM EXERGY

Axiom Exergy is an energy storage company focused on making the world’s energy systems smarter and more efficient. Its team has deep expertise in supermarket
energy management, thermal energy systems engineering, hardware development and energy services. Axiom Exergy provides its customers—supermarkets
and commercial buildings with high refrigeration-based energy loads—with turnkey energy management solutions that reduce operational costs and
business risk. Axiom Exergy takes the financial and performance risk out of deploying the Refrigeration Battery by offering its customers flexible
financing programs, so that customers save more than they pay from day one. www.axiomexergy.com